Influential Factors of Software Firms’ Performance in the Industry of
Developing Countries
Mohitul Shafir
1 a
, Partho Protim Saha
1 b
, Ahnaf Tazwar Araf
1 c
, Shadat Irtisamul Haque
1 d
Mahady Hasan
1 e
, Farzana Sadia
1 f
and M. Rokonuzzaman
Independent University, Bangladesh, Dhaka, Bangladesh
North South University, Dhaka, Bangladesh
Radical Innovation, New Product Advantage, Customer Unfamiliarity, Hypothesis Model, Marketing
This research focuses on the factors that influence the manner in which profoundly innovative businesses de-
velop new products. A sample size of 96 individuals, including managers, software developers, marketing
officers, and proprietors, was chosen to respond to a questionnaire containing twenty inquiries regarding the
organization’s marketing strategy, the benefits of the new product, and the level of consumer awareness regard-
ing the product. Using a structured questionnaire, the authors gathered data for this study from a sample of 27
companies engaged in the development of software marketing products and services. The result illustrates the
benefits of novel products, which are associated with the product’s radical nature and business performance.
Personal interviews, phone interviews, and Google Forms surveys collected data on organizations’ new prod-
uct marketing tactics and consumer reactions. Drawing upon previous research on product innovations, this
study presents a theoretical framework that establishes a connection between the radicalness of product inno-
vation, market performance, and internal and external relations characteristics of organizations.
Radical marketing is a strategic strategy that distin-
guishes a firm from its competitors by defying tra-
ditional marketing rules and using fresh, imagina-
tive tactics. Radical marketing entails risk-taking,
creativity, and the implementation of an unusual ap-
proach. Unlike standard marketing tactics, qualities,
or strategies, radical marketing develops its own pro-
tocols.(Etim et al., 2021).
One of the most difficult challenges in radical mar-
keting is establishing a strong and long-term con-
nection with customers in Dhaka, Bangladesh. This
necessitates a focus on communication, trustworthi-
ness, and the capacity to recognise and serve customer
needs. In situations when resources are limited, busi-
nesses must be willing to stray from traditional mar-
keting and advertising practices in order to differen-
tiate themselves from competitors. Unlike traditional
advertising, which tries to reach a broad audience and
charges a flat cost regardless of results, radical mar-
keting provides more precise audience segmentation
and performance measurement based on goals. This
enables businesses to direct a part of their market-
ing budget towards channels that provide concrete re-
sults. To assess whether or not to use an innovation
process while launching a new product to the market,
weigh the advantages against the adoption costs. Cus-
tomer unfamiliarity has a negative mediation impact,
while the advantage of a new product positively me-
diates the association between product radicality and
firm performance. Businesses must carefully analyze
what their product is made of, how it might benefit
customers, and which consumer criteria it targets and
serves(Almasarweh et al., 2019).
Software firms in Bangladesh have significant
marketing performance gaps, and bringing a new
product to the market is a crucial but often over-
looked business activity. Firms may develop and de-
Shafir, M., Saha, P., Araf, A., Haque, S., Hasan, M., Sadia, F. and Rokonuzzaman, M.
Influential Factors of Software Firms’ Performance in the Industry of Developing Countries.
DOI: 10.5220/0012691100003687
Paper published under CC license (CC BY-NC-ND 4.0)
In Proceedings of the 19th International Conference on Evaluation of Novel Approaches to Software Engineering (ENASE 2024), pages 547-554
ISBN: 978-989-758-696-5; ISSN: 2184-4895
Proceedings Copyright © 2024 by SCITEPRESS – Science and Technology Publications, Lda.
ploy unique goods that differentiate them from com-
petitors and result in long-term profitability by scruti-
nizing empirical facts and providing an original per-
spective on the issue. Thus, radical marketing may be
characterized as a strategic strategy that deviates from
traditional marketing conventions while using fresh
approaches. It requires a steadfast commitment to es-
tablishing long-term consumer relationships as well
as a willingness to diverge from conventional market-
ing and advertising practices. Companies may design
and execute successful marketing strategies that result
in long-term success by carefully examining the ben-
efits of innovative products and understanding cus-
tomer desires.
Marketing performance measurement is an essential
domain for organizations to ascertain the efficacy of
their marketing strategies and the correspondingly
high return on investment. In this scholarly arti-
cle, which examines a book and influential articles
pertaining to marketing performance measurement,
the principal findings and recommendations are high-
lighted. The limitations of their findings and the data
acquisition methodologies utilized in the studies are
also addressed by the authors(Jain, ). There was a
study that looked at how action direction and mar-
ket perception affect the effectiveness of advertising
for service-oriented businesses in Ghana. The results
of the study show that improving marketing perfor-
mance depends on how action direction and market-
place sensing work together(Riswanto et al., 2020).
Another study looked at how market-oriented In-
dian software companies are and whether companies
that are new also do better at what they do. The study
says that for businesses to be profitable and last, they
need to focus on marketing and be able to come up
with new ideas(Noh and Fitzsimmons, 1999). The
third study looked at the link between market mindset
and marketing success in the food service business of
West Java Province, Indonesia. It did this by using
innovation as a bridge. The study’s results show that
smart marketing needs both knowledge of the market
and new ideas(Etim et al., 2021).
An additional study looked at how information
technology affected marketing in the Korean service
sector. It found that marketing activity, efficiency, and
competitiveness were all improved in three areas by
using IT(Hacioglu and G
ok, 2013). According to a
survey of 187 businesses, the export process is influ-
enced by industry-specific factors, domestic and for-
eign client loyalty, and niche market targeting, as op-
posed to the psychological or geographical proximity
of export markets(Bell, 1995).
A research investigation explored the influence of
interaction orientation and marketplace sensing ca-
pabilities on the marketing performance of service-
oriented organizations operating in Ghana. The
re- search discovered that interaction orientation
and market sensing interact in a critical manner to
enhance marketing performance(Kankam-Kwarteng
et al., 2021). Additionally, another study looked
into how marketing knowledge might improve the
marketing skills of selling companies from emerg-
ing economies that work in developed markets. The
study found that market response was one of the most
important factors that led to better marketing success
in developed markets(Khan and Khan, 2021).Experts
believe that business intelligence has a positive impact
on knowledge, experience, decision-making criteria,
and export performance based on a study that looked
at the connection between business intelligence and
firms’ international activities and software exports
to Paraguay(Neubert and Van der Krogt, 2018).Five
Bangladeshi businesses’ marketing performance was
ultimately evaluated in a study that examined the im-
pact of big data. According to the study, big data con-
cepts are unpopular among marketers in Bangladesh,
despite the fact that their adoption would improve
marketing performance(Jobaid and Jabin, ).
The ride-sharing softwares affects social, eco-
nomic, sustainability and environmental concerns
with specific emphasis on elements that determine
company performance. These businesses adjusted
their software marketing during the COVID-19 epi-
demic to attract the retain clients using a combination
of qualitative and quantitative methodologies. Safety
became top priority during that time with special mar-
keting being key factors in attracting and satisfy-
ing customers(Islam et al., 2023).The studies high-
light the importance of several factors in achieving
marketing success, such as innovation, market ori-
entation, information technology, marketplace sens-
ing, interaction orientation, and big data. However,
the study has limitations such as the use of cross-
sectional data, small sample numbers, and difficul-
ties in proving causal links. Further study is required
to fully comprehend marketing performance measure-
ment(Bag et al., 2021).
Last but not least, a study looked into how big
data affected the marketing results of five Bangladeshi
companies. The study found that marketers in
Bangladesh don’t use big data ideas very often, even
though doing so could help their campaigns do bet-
ter(Hajela and Akbar, 2013). In a different study, a
model was made that shows how entrepreneurial mar-
ENASE 2024 - 19th International Conference on Evaluation of Novel Approaches to Software Engineering
keting, economic edge, and marketing success are all
connected. The study found that entrepreneurial mar-
keting and economic edge have an effect on how well
marketing works(Hidayatullah et al., 2019).
A. Competitive Mediation
In recent times, the integration of innovation into
business strategies has grown in significance, owing
to its pivotal role in fostering competitive advantage
and sustained expansion. By introducing new prod-
ucts or services, developing new technologies, or
employing new business models, organisations are
perpetually searching for effective methods of inno-
vation and maintaining a competitive advantage(Yasa
et al., 2020). Such items are more likely to succeed,
gain market share and be lucrative. Achieving an
early-mover or first-mover advantage is a fundamen-
tal incentive for businesses to engage in innovative
practices. Organisations can attain market leadership
and acquisition of market share by being the pioneers
in the introduction of novel products or services. This
is particularly accurate regarding radical innovations,
which entail the launch of novel products, environ-
ments, or technologies. By providing substantial
price and performance enhancements in comparison
to established products, radical innovations have the
potential to confer a competitive advantage(Hacioglu
and G
ok, 2013). Nonetheless, the implementation
of a revolutionary advancement is not without its
own array of obstacles. Unfamiliarity on the part of
customers with the novel product or technology may
impede its adoption. Specifically, inadequate product
information may impede customers’ comprehension
of the product’s attributes and advantages, thereby
introducing elevated degrees of uncertainty and
risk. Notwithstanding these challenges, the relative
advantage of a product over its competitors positively
impacts the adoption of novel products. This advan-
tage may be derived from the product’s superiority,
unique benefits for the consumer, high quality, or
a reasonable price. Products that attain success,
marketability, and financial profitability are those that
surpass the expectations of consumers through the
fulfilment or resolution of their requirements. Exist-
ing research has established a correlation between the
success of innovation and the firm’s or organization’s
performance, with the former benefiting the latter.
Early adoption of the product can contribute to the es-
tablishment of the organization’s objectives, thereby
enhancing this performance. Furthermore, the benefit
of the novel product positively influences the sense of
brand value and brand loyalty among consumers in
the business-to-business sector, potentially enhancing
the performance of the organisation.
Therefore, we have predicted the following hypothe-
H1: Product radicality and firm performance are
positively mediated by the advantage of the new
H1(a): Product radicality and advantage of the new
product are strongly correlated.
H1(b): Firm success is strongly correlated with new
product advantage.
The term ”product radicalization” denotes the extent
to which an innovative technology is integrated into
a novel product. Because the revolutionary element
of the innovation is either new-to-market or new-to-
the-world, it is possible that consumers are not yet
acquainted with the product. Particularly in the B2B
sector, this unfamiliarity may generate greater lev-
els of risk and uncertainty, impeding the adoption
of new products(Hacioglu and G
ok, 2013). Thus,
the research has demonstrated that unfamiliarity with
the client is associated with increased risk and uncer-
tainty, which impedes the adoption of new products,
especially in the B2B context.
Figure 1: Theoretical Model.
Consequently, business consumers exhibit a greater
aversion to risk, thereby diminishing the likelihood
of their acquiring revolutionary new products. The
aforementioned has an adverse impact on the seller’s
enterprise. Furthermore, customer unfamiliarity
necessitates that organisations introducing revolu-
tionary products allocate resources towards customer
education and training with the aim of altering
customer perceptions(Carmona-Lavado et al., 2020).
In conclusion, the success of radical innovations may
be significantly impacted by the timing of product
introduction. Before the market is prepared or the
technology has been completely developed, introduc-
ing a revolutionary new product too early can result
in high costs and low adoption rates. On the contrary,
the introduction of a revolutionary product belatedly,
Influential Factors of Software Firms’ Performance in the Industry of Developing Countries
subsequent to the establishment of competitors in
the market, may lead to overlooked prospects and
diminished market presence. Given these factors into
account, we put forth the subsequent hypothesis:
H2: Unfamiliar Customers and the Impact on the
Relationship among Product Radicalness and Firm
H2(a): Positive correlation between the radical-
ness of a product and the level of unfamiliarity
experienced by customers.
H2(b): The performance of the firm is negatively
affected by customer unfamiliarity.
B. Moderated Mediation: Manufacturing Indus-
try vs. Service
There are substantial disparities between the man-
ufacturing and service sectors regarding innovation
strategies, which have an impact on their respective
market performance and levels of success. The inno-
vation process is rendered more intricate due to the in-
tangible, heterogeneous, inseparable, and perishable
nature of service industry offerings. As an alternative,
the manufacturing sector consists of patentable tangi-
ble goods, and innovation is frequently predicated on
groundbreaking developments that demand substan-
tial investments in research and development. This
is because ongoing developments generate a greater
quantity of user interactions, which facilitates a more
efficient and expeditious product market fit. Addition-
ally, the adoption of agile methodologies, including
spiral developments, is more probable in the services
sector as opposed to the manufacturing sector. This
accelerates the process of transforming the new offer-
ing into a competitive edge and ultimately contributes
to the success of the organisation.
H3: The impact of product radicalness and novel
product advantage on firm performance is contin-
gent upon the industry in which the company oper-
ates, with service enterprises generally experiencing
a more pronounced positive influence. To alleviate
the adverse effects of consumer unfamiliarity, service-
dominant organisations allocate a significantly greater
proportion of their research and development budget
towards incremental advancements as opposed to rad-
ical ones(Yasa et al., 2020).
In service industries, where inseparability connotes
the concurrent provision and utilisation of services
and necessitates a greater degree of collaboration in
a business-to-business context, the impact of prod-
uct radicalness on customer unfamiliarity is compar-
atively diminished.
Having a significant degree of client interaction dur-
ing the commercialization phase enables adaptability
by customising the service to meet the specific needs
of each client, which ultimately leads to increased
levels of customer satisfaction and loyalty. In con-
clusion, consistent human involvement throughout
the implementation stage facilitates innovation accep-
tance by promoting comprehension of novel concepts,
raising awareness of their advantages, and reducing
the need for extensive training. Innovation improves
customer relationships in a business-to-business con-
text, but in the case of services, it is more pronounced
by virtue of their inseparability, which compensates
for clients’ unfamiliarity.
H4: Service firms are less significantly impacted by
product radicalness and customer unfamiliarity than
manufacturing enterprises. Furthermore, the relation-
ship between product radicalness and firm perfor-
mance is mediated by the industry category. This
disparity arises from the fact that the service sector
places a higher value on ongoing innovation and grad-
ual modifications, which customers readily embrace,
in contrast to the manufacturing sector which is more
prone to investing in revolutionary advancements that
customers might not be acquainted with, thereby en-
gendering resistance to adoption.
Thus, the manufacturing and service sectors adopt
distinct innovation strategies: the former places a
premium on incremental advancements and ongo-
ing innovation, whereas the latter allocates resources
towards potentially patentable technological revolu-
tions. With a shorter time-to-market, service innova-
tions are simpler to develop and implement than prod-
uct innovations; service-dominant organisations have
a shorter B2B development cycle time than product-
dominant enterprises. Additionally, inseparability in-
tensifies service innovation, which helps to compen-
sate for clients’ unfamiliarity.
A. Sample and Data Collection
Information was gathered from modest software com-
panies in Bangladesh that develop software applica-
tions and digital marketing services for the purpose
of this investigation. These sectors have been ac-
knowledged as a rapidly growing economic domain
in Bangladesh, which incorporates cutting-edge com-
ponents into its operational framework. This study
consulted twenty-seven software companies based in
Bangladesh, including those that were recently estab-
lished in the industry. Information was collected from
a heterogeneous cohort of staff members, compris-
ENASE 2024 - 19th International Conference on Evaluation of Novel Approaches to Software Engineering
ing project managers, developers, marketing execu-
tives, and sales directors, all of whom were involved
in the launch of innovative products or the redesign of
existing ones pertaining to software, web, and other
technical applications. The information gathered for
this study comprised personal interviews, phone in-
terviews, and Google Forms surveys. The surveys in-
quired about the approaches employed by the com-
panies to inform consumers about their new products
and elicited corresponding responses. The findings
of this research may provide minor software compa-
nies in Bangladesh with insights into how they can in-
crease their competitiveness through product innova-
tion and marketing strategies. The data was gathered
via telephone interviews and in-person consultations.
Our primary emphasis was on utilizing Google Forms
as a data collection instrument for the generated ques-
tionnaires. This study examines the manner in which
companies communicate new products to consumers
and the corresponding reactions they elicit.
Table 1: Participants Samples.
Number of Companies Proportion
Number of Employees (size)
0 - 10 7 25.93%
11 - 20 8 29.63%
21 - 30 3 11.11%
31 - 40 5 18.52%
Above 40 4 14.81%
Age (In Years)
0 - 5 15 55.55%
6 - 10 6 22.22%
Above 10 6 22.22%
Manufacturing 20 74.07%
Services 7 25.93%
Total 27 100%
Table 1 further on the details of sample characteristics
and dispersion. The sample and the population of
workers in the participating software businesses did
not significantly vary from one another.
B. Measurements
The items of the scale, along with their standard
factor loadings and reliability indices, are detailed in
Table 2. The median values for the initial measure-
ments of each variable, as estimated for a sub-sample
of 27 companies: product radicalness (26), customer
unfamiliarity (20), new product advantage (27), and
firm performance (25). Consequently, singular scores
were computed for each construct and company
through the process of averaging the scale elements
provided by multiple respondents. Like previous
research, this study examined innovation practices
that have occurred within the past five years. The
evaluation of every independent factor and mediator
was conducted utilizing a Likert scale ranging from 1
to 7.
Product Radicalness: The degree of radicalness of
respondents’ new or considerably upgraded prod-
ucts/services were in the past five years.
Customer Unfamiliarity: The grade for Avlonitis
and Salavou’s newness to customers was changed.
New Product Advantage: We modified the new
product uniqueness scale developed by Avlonitis
and Salavou(Yasa et al., 2020). This measure’s
items correctly capture the concept of a new product
Firm Performance: Utilising the six-item subjective
measure that Zahra devised, business performance
was assessed. On a scale of one to seven, the
respondent’s level of satisfaction with the firm’s
achievement of a specific goal was assessed for each
inquiry. The weighting of the questions was deter-
mined by the perceived significance of the objectives.
Because both importance and satisfaction were
evaluated using a seven-point scale, the aggregate
index ranges from 1 to 49(Yasa et al., 2020). By
conducting discussions with the companies involved,
we were able to ascertain the industry type and the
age of the firm, which facilitated the generation of
this information. By conducting discussions with
the companies involved, we were able to ascertain
the industry type and the age of the firm, which
facilitated the generation of this information.
C. Measurement Analysis
As the evaluation instruments were formulated sub-
sequent to an extensive literature review pertaining
to the research constructs, their content validity can
now be affirmed. The variables being examined are
represented in Table 2 with Cronbach’s alpha, com-
posite reliability (CR), and average extracted variance
Instead of using more traditional methods, process
analysis was chosen as the best way to test hypotheses
when the independent and dependent variables have
conflicting impacts. (Yasa et al., 2020).
Product Radicalness (PR), Customer Unfamiliar-
ity (CU), New Product Advantage (NPA), and Firm
Performance (FP) were the variables under investiga-
tion. SFL is Factor loading.
SFL = Factor Loading, AVE = Average Variance Ex-
tracted, CR = Composite Reliability, α = Cronbach’s
Influential Factors of Software Firms’ Performance in the Industry of Developing Countries
Table 2: Scale item, factor loading, and convergent validity.
Construct Scale Item SFL Alpha CR AVE
Regarding the new or significantly improved
products/services launched by the company in the previous
five years, it can be say that:
0.827 0.16 0.43
PR 1: They were based on a revolutionary change in
PR 2: They were a breakthrough innovation 0.735
PR 3: They led to products that were difficult to replace with
substitutes using older technology
PR 4: They represented a major technological advance in the
PR 5: They represented a minor improvement over the
previous technology
NPA 1: They offer more possibilities to customers 0.770 0.841 0.56 0.86
NPA 2: They cover more customer needs 0.775
NPA 3: They have more uses 0.791
NPA 4: They offer unique, innovative features to customers 0.793
NPA 5: They are of higher quality 0.580
CU 1: They required a major learning effort by customers 0.792 0.792 0.011 0.015
CU 2: It took a long time before customers could understand
their full Advantages
CU 3: The product/service concept was difficult for
customers to Understand
CU 4: They were not known and tried in the market 0.663
Firm Per-
FP 1: Return on investment 0.805 0.819 0.014 0.063
FP 2: Return on equity 0.814
FP 3: Sales growth 0.822
FP 4: Net profit margin 0.796
FP 5: Market share 0.816
FP 6: Return on assets 0.801
Industry 0 = Manufacturing 1 = Service N/A
Firm Size Number of employees N/A
Firm Age Number of years since the firm was founded N/A
Here, we decided that 1 = Totally disagree, 7 = To-
tally agree for every part of the questionnaires. Note:
All factor loadings exhibit significant statistical sig-
nificance label: 0.01.
Because process analysis works well in situations
where the independent and dependent variables are
subject to conflicting effects, it was chosen for this
inquiry over more traditional alternatives for hypothe-
sis testing. This study investigated the following vari-
ables: PR, CU, NPA, and FP & SFL (Factor Loading).
The assessment of the measurement instruments’
reliability was conducted utilising Cronbach’s Alpha
(alpha) and Composite Reliability (CR). Convergent
validity was evaluated using the Average Variance Ex-
tracted (AVE)(Yasa et al., 2020). On a scale of one
to seven, respondents indicated their degree of agree-
ment with each statement. Significant factor loadings
were observed for all variables at the 0.01 level.
PR = Product Radicalness
CU = Customer Unfamiliarity
NPA = New Product Advantage
FP = Firm Performance.
The findings of this study suggest that a product’s
radicalness affects performance in two ways: favor-
ably, via the mediation of unique product benefits,
and adversely, through customer unfamiliarity. Pro-
cess analysis was selected as the best approach for
investigating these two opposed routes.
As hypothesised in H1 and H2, we examined
the effect of two competitive intervening factors on
the relationship between radical product innovation
and firm success in this study. The results of our
Table 3: Exploratory Factor Analysis.
Factor 1 Factor 2 Factor 3 Factor 4
PR 1 0.786
PR 2 0.735
PR 3 0.808
PR 4 0.686
PR 5 0.540
NPA 1 0.776
NPA 2 0.775
NPA 3 0.791
NPA 4 0.793
NPA 5 0.580
CU 1 0.792
CU 2 0.820
CU 3 0.637
CU 4 0.663
FP 1 0.805
FP 2 0.814
FP 3 0.822
FP 4 0.796
FP 5 0.816
FP 6 0.801
Table 4: Standard Deviation.
Standard Deviation
Product Radicalness 4.380
Customer Unfamiliarity 3.920
New Product Advantage 4.099
Firm Performance 4.710
Industry 2.074
Firm Size 5.196
Firm Age 9.192
study offer evidence in favour of both Hypotheses
1a and 1b, suggesting that the relationship between
firm performance and product radicalness is influ-
enced by the benefit of new product and client un-
familiarity. Additionally, we have noted a negative
correlation between client unfamiliarity and product
innovation, which subsequently affects business per-
formance negatively(Noh and Fitzsimmons, 1999).
Table 5: Correlation Matrix.
1 2 3 4 5 6 7
Product Radicalness 1
Customer Unfamiliarity 0.510 1
New Product Advantage 0.385 0.212 1
Firm Performance 0.287 0.342 0.318 1
Industry -0.09 -0.171 0.564 0.636 1
Firm Size 0.995 0.979 -0.189 0.961 0.327 1
Firm Age 1 1 -1 1 -1 1 1
Additionally, it can be stated that the client’s igno-
rance and the commerce of assiduity concerning the
radical sound of the product were both substantial. In
a manner similar to the preliminary direct effect, a
ENASE 2024 - 19th International Conference on Evaluation of Novel Approaches to Software Engineering
basic pitch analysis was performed on H4. The pre-
cision of the product reduced the client’s ignorance
during production, but the effect was negligible when
it was served.
We can affirm that both H2a and H2b are sup-
ported, as per our analysis. In addition, the results
of the bootstrapping analysis reveal that the circu-
lar effect is statistically significant at 0.03, which
provides additional support for H2(Noh and Fitzsim-
mons, 1999). Subsequently, we employed the process
analysis methodology, more precisely the average-
centric function in PROCESS, to examine the mediat-
ing effect while considering the industry-specific cir-
cumstances. Hypotheses H3 and H4 posit that the in-
fluence of product radicalness on firm performance is
moderated by the category of industry via the two in-
tervening variables.
A significant correlation was identified between
the category of industry and the combined effect of
customer unfamiliarity and product radicalness. A
straightforward slope analysis was performed for H4,
following a methodology similar to that of the indi-
rect impact. Based on the results, it was observed that
product radicalness positively impacted consumer un-
familiarity, albeit with a relatively weaker effect in the
service sector.
Through an examination of the effects of radical in-
novation in products on the performance of software
enterprises based in Bangladesh, this research con-
tributes to the existing literature on marketing perfor-
mance. The research demonstrates that radical prod-
uct innovation has two contradictory effects on firm
performance: a positive impact mediated by the inno-
vative product’s benefit, and an adverse effect medi-
ated by consumer unfamiliarity. Additionally, the re-
search reveals that product radicality has a more nega-
tive effect on consumer unfamiliarity in the industrial
sector than in the service sector.
It is essential to note, however, that the findings
of this study may not be applicable to other nations,
as the research was limited to Bangladeshi software
companies. Consequently, it is imperative that forth-
coming investigations delve into distinct categories
and impediments to innovation, alongside sales and
marketing tactics employed by software firms based
in Bangladesh. Moreover, conducting research on
these variables in different nations may yield a more
holistic comprehension of the ramifications of radical
innovation in products on the performance of busi-
In general, the findings of this study carry sig-
nificant implications for enhancing the marketing ef-
ficacy of software companies based in Bangladesh.
Through gaining an understanding of the impact that
radical innovation in products has on the performance
of businesses, organisations can formulate tactics to
minimise the adverse consequences of consumer un-
familiarity while capitalising on the favourable out-
comes of the new product’s advantage.
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ENASE 2024 - 19th International Conference on Evaluation of Novel Approaches to Software Engineering